tv Cavuto on Business FOX Business May 11, 2014 8:30am-9:01am EDT
their business model is free. >> john, your prediction, quickly? >> twitter is beaten up. i think it's too far down and goes up 20% in the next year. >> jonas, bull or bear. >> down side. >> hash tag us on twitter. forget about too big to fail. where some obama care websites set up to fail. i'm neil cavuto. massachusetts dropping the current health care exchange website because costs, well, apparently are out of sight. oregon is already ducking out and maryland is close to saying, well get us out. who is exactly is stepping in? will the united states government, the health care exchange ring a bell? was that the plan all along? charles payne and dagen along with adam and charlie. i want to first of all thank charlie for filling in the past couple weeks. couldn't get back a moment too soon.
look what this guy was working on in my absence. clever. very, very clever. >> that cost me a lot of money. those graphics don't come cheap. >> what do you make of this now whether that was the plan all along. >> i know the plan is, i think, by the way, no secret. the plan is single payer. that's what they would love to do. the most watered down version. that's their whole goal and this is the only way they could actually get to it this plan they went through. the obama administration bragging and the only one in 100 years that can do it. we all know the goal. as far as the individual sites, though, failing, i think it's an embarrassment because you think of all the pressure that the white house has put on republican governors for not, you know, not playing along and not participating and setting up these sites, a big failure for a lot of these folks and going to a national site that doesn't work. >> what do you think, dave?
>> one of the boston papers is calling it the big dig two. >> a lot called it the death of romney care. if you read a lot of the press up there, romney care. >> that was the weirdest thing because the exchange in massachusetts had been up and running since 2007 and them trying to convert it to all the requirements of the affordable care act that, in part, was one of the things that was a disaster for that state. oregon, the fbi is investigating the failure of its website. so, i think it shows you that bureaucrats, whether at the federal level or at the state level are just ridiculous and when they're given money, they will spend it recklessly and you get, basically, nothing for something. >> i am not to leap on political patterns here but all these three states run by democratic governors. >> the short list to be president, possibly. i would say this, i had a big debate with austan goolsbee
where he said obama care is a private sector solution to our health care crisis. >> what are you guys doing at the conference? >> would you like to know? >> not really. >> just lends credence to your lie. >> what are we to make of this because i suspect these three prominent states and 47 others at last count. what do you think is going to happen? >> let me tell you a very short story years and years ago morton's restaurant in beverly hills used to have a bar filled with beautiful, single girls and i once asked one of them why are you all here to meet a rich husband and someone to take home with you? she said, i don't know why they're all here. what they're doing at the obama administration health care department and i don't think they know anything, i think they're in a state of total confusion. to give them credit for a plan that is subtle is trying to make this complicated plan and to give them much, too much credit
for planning. >> but i believe those single women knew exactly why they were there. >> well, they didn't answer me anyway. probably thinking, go away you old -- >> hardly. adam, what do you think of this program that you were looking forward to and then woke up hollering and shouting and it arrived and now it's falling apart. >> well, all very accurate except that it's not falling apart. the exchanges or the websites and some of the states aren't working as well as they need to. these are the states, by the way, that went along with the way that the legislation was written. i mean, look, i agree that there are people within the democratic party who wanted single payer, but, that is sort of a fact. but that's not how the legislation was written. that's not the legislation. >> adam, you have to remember, my friend. in the beginning you were talking about the administration if it were not for the republican governors blocking exchanges in their state this thing would be doing much
better. now, ironically, the three states coughing up blood right now are all run by democratic governors who said this thing was the greatest thing since sliced bread. well, they didn't say that. i think they called it -- but you get my point. >> i do. it makes perfect sense that because the democratic states or the states run by democratic governors were more likely to participate in the exchanges that if there is going to be failures, it is going to be in the places where people try. >> so either, you know, it's either democrats who overpromise or republicans who underdelivered. either way, this thing is in serious trouble and you're not even seeing that. >> it's not in serious trouble. it has problems. and, so, we're going to roll up our sleeves and fix the problems. by the way -- >> we, you're a journalist. you don't work for mr. obama, you're a journalist. >> i'm a citizen, i'm a patriot. i'm talking about, i'm not finished. i'm talking about important
legislation in our country. and, charlie, what goolzby was telling you was that this program relies on private insurance companies. that's his point. that's a fact. >> he was just yelling, seven, seven, seven. i have no idea what that meant. what do you make of that? the bottom line is that this thing is way, way, way overbudget and way, way, way underdeliveri underdelivering. >> i feel sorry for adam that he has to defend this stuff and come up with new excuses. now, it's not a serious problem, just has some problems. listen listen, i do believe that they knew this thing wouldn't work over time. at least they thought we'll roll it out and see if it does work because that's essentially what nancy pelosi said and then their fallback position was nationalized health care and here's why a single payer, you can't put the genie, very hard to put the genie back in the bottle. >> i'll give nancy pelosi more credit. the quickest way to get is to
take obama care. what do you think of obama care. but, besides that, i think she did read it and she did know what was inside it exactly to the letter. and i think all of this is coming out exactly as she expected it might. >> you give the states the power to do their own thing to push it through. if the state exchanges are underperforming the federal government can take them over and that is the direction that we're heading in with a lot of these states. by the way, the massachusetts exchange, it clap collapsed af few hours of operations. money was free flowing from health and human services. >> romney care, they are already trying to pin this on that old program, not on the new program. >> the problem appears to be the conversion to meet the standards of the affordable care act. that's when it collapses. but $180 million. >> yeah. or even a year ago. listen, i agree with ben in a
sense that i think we do, every time the obama administration stumbles somehow we give them more credit that they deliberately stumble like dick vandyke in the opening scene of the show. no, i think they made a big mistake. >> you just lost both of them right there. >> that's okay. they'll come back. but here's the thing -- i remember that. the reality of it all is that they do single pair and this kind of stuff may or may not help them but i think overall nancy pelosi the american public, it doesn't help. just doesn't help when these states fold and all these problems come and it isn't helping. whatever the overall goal is, they're moving further away from it. >> to keep us from heading in that direction with all health care and health insurance, you've got to admit that medicare is single payer and that needs to be fixed first before. >> you know, ben stein, the one that i've seen and you said this in one of the programs when no two people can kind of agree or make sense of this, that probably tells you something and
maybe, you know, to add a point, it will be cleared up in short order. i don't know. but the fact of the matter is, a lot of people have no idea what is going on. they know they're being unsettled they know a lot have moved on to something that is very, very different and they're paying a lot more for it. if they have coverage at all, they're confused. generally in that environment you have a lot of ticked off people. >> you have a generally confused administration about everything. confused on how to get us out of the recession and confused on what to do about foreign policy which is a state of confusion. i just don't think they know what they're doing. a group of incompetents that just don't know what they're doing. when we come back charles payne will make a milton berle joke. meanwhile you think this wage rage is done? think again, it's just starting. could be stopping a lot of new jobs from even getting started. [ female announcer ] who are we?
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you are watching the most powerful name in news, fox news channel. that's right. anyway. it is now going global food workers in america and several countries overseas are planning to strike for higher pay beginning next week. this coming with a new study that shows u.s. companies are collapsing faster than they are being created. charles payne, something's not
right here. >> this is really shocking. the entrepreneurship small businesses and more dying than are being born, the most frightening stat i've seen in a long time and it's been happening for a long time. the last three or four years has been a death spiral and it's not going to get better and far worse as we talk about forcing higher minimum wage. $26 an hour in california. >> it's not going anywhere. but it is, i think when you say a figure like that, they say, geez, $10, $11. >> all under the fairness argument, but the real irony of it is the more you hike this, the less fair it is for the people you are supposedly helping for the people at large. >> that snuck out to me and provided that. hey, it's unprecedent in nature, sweeping nature and that it affects almost every major u.s. industry sector. i think the exception was the internet, right? what's going on? >> and across states it's the same trend, as well. i think a lot, i think some of it has to do with we are a
bigger, more developed economy and you have bigger companies getting much bigger. smaller businesses. >> can't dynamically grow like it used to. >> smaller businesses falling by the wayside. is it disturbing? absolutely. are we headed the way of great britain? >> much better plan here. >> i have to agree with that. a lot of small business owners when you say, you know, what's preventing you from being happy about the future or hiring more people, regulations, taxes they don't say because some guy has -- >> regulations. >> as much as they have now. >> you are saying we have a lot more now and that's what's doing it. >> obama care. you know, you don't think restaurant owners in this city talk about trying to get -- >> this is the trend over three decades. so, it's not just -- >> not all restaurant owners. the guy around the corner here worships the guy and i always point out, you're getting screwed. >> all i can say is this, small businesses in the city do and
parts of the country do have to compete with wall marts. but when you provide a better service than they do at walmart. >> i am thinking you are personal experience, it is taxes and regulation and also the walmart for the world. >> ben stein, i mean, the trend is not our sort of macrofriend here, is it? >> i don't think it's our macro enemy either. people can buy things of good quality and walmart for very low prices and like the ones owned and ancestors out of business are hurting them. that's not necessarily a bad thing for americans. good for americans to be able to buy things cheaply. >> adam, what do you make of that? >> i would just put a slightly different twist on it. of course it's concerning. we want it be creating businesses. but the more important gauge is overall employment. people who don't operate small businesses any more get jobs. we're not doing enough to stimulate jobs, but we are experiencing job growth. >> you need to look at all of
it. >> what do you think ge is hiring here in the u.s. or china? >> i can't believe that your work participation is at a 35-year low. that same chart we're talking about you look at the only time it had a huge jump. '81 to '87 who was president then? ronald reagan. iftrust rates were higher. think about it, you can buy an $800 laptop and start a business. interest rates are low. something is wrong with this country. >> think about where these multi-national companies hire. they don't hire in the u.s., generally. they hire overseas where they achieve economies of scale. >> much more now than ever before. >> this creation and destruction report on businesses doesn't capture the success of a company like an apple that continues to grow and even -- i know, but in recent years as it continues to get bigger. it doesn't capture that. >> bernie marcus said if he needed to start home depot now as a small business, he could not do it because of the
regulations. that's all you need to know. >> not all you need to know. >> adam, you worried that regardless of what you think of the president and i will disagree with charlie at this point that this process has been going on in several administrations. it might have under this one. we have to address in a bigger sense why it is these jobs go else where and why it is we are not the beacon we were for a lot of this, a lot of this ingenuity that we used to be. >> generally agree and what you're adding to the conversation, neil, is that this is a multi-data point problem. not a one data point problem. >> i don't know what you mean by that but something like that. ben? >> we just have a competitor that are very well trained and very well motivated with machinery as good as our machinery and that's it. i mean, they're going to beat us. >> this might be another problem, too, by the way, folks. employees watching and their bonuses giving them a bonus.
one government agency is doing it and this is the death of mankind as we know it. up next, write a bad review online you might want to lawyer up. does a company have a case if it's suing a critic? if it does, i'm just telling you, i might be in business. you report and then some of you e-mail nasty things to me, you e-mail nasty things to me, you might want to hide. when folks think about what they get from alaska, e-mail nasty things to me, you might want to hide. they think salmon and energy. but the energy bp produces up here creates something else as well: jobs all over america. engineering and innovation jobs. advanced safety systems & technology. shipping and manufacturing. across the united states, bp supports more than a quarter million jobs. when we set up operation in one part of the country, people in other parts go to work.
all right. well heres an easy way to deal with a negative review. just sue. one company is considering taking someone to court for posting a bad product review on amazon but it did get me thinking. i have gotten one or two bad reviews from this one how did you ever get a job on tv. she wasn't that kind. you stupid mindless clueless gutless coward whose life bogged his fat head. do i have a case to sue him. >> no, you don't. if someone wrote in and said i saw you buying underwear for yourself at victoria's secret -- >> the problem with is that? >> it's not true. >> well, wait does he have a fat head? >> careful. >> well, in this case it was about a guy that bought a router. he didn't like the product. the company that makes the
router started saying he knew a little too much. >> now that's a little different. >> i know. i'm just giving you legal arguments. >> someone who has been through 50 -- well, five book liable legal reads on liable and many many -- >> well you deserve it because you make stuff up. >> and many more at the wall street journal, newsweek, you name it, opinion is protected but if he went on the on and said listen and made up stuff about this product, they have a case. >> there was precedent. >> when i get stuff on amazon i look at it and i'll just review what people are saying about the product and if a number of them are saying bad things i'll think twice about that product. >> it's a big issue. >> yeah it's a big issue. >> we live in a world where people throw things out there and someone sued me, my company and they said we were racist because we read my market commentary and they assumed -- i don't what. >> that you were racist.
>> how can you sue someone for being racist? >> i don't know but we're all vulnerable until they can clean it up. >> here's what i worry about. this overshoots the mark here and people are leery about saying anything at all to anyone ever. what do you make of it? >> that is a concern. we won't get there because opinion is clearly protected. >> you can't discern whether this guy's attack was an opinion or whether he was from a competitor. >> it's hard to comment on briefly. >> feel free to call me all the nasty names you want to on twitter. >> doesn't that apply to me because i'm vulnerable. what is so hateful. we asked people a question,
how much money do you think you'll need when you retire? then we gave each person a ribbon to show how many years that amount might last. i was trying to, like, pull it a little further. [ woman ] got me to 70 years old. i'm going have to rethink this thing. it's hard to imagin how much we'll need for a retirement that could last 3years or mor so maybe we need to approach things dferently, if we want to be ready for a longer retirement. ♪
healthy blood sugar levels. metamucil. 3 amazing benefits in 1 super fiber. charles, what do you have? >> i bought twitter this week. it's absolutely oversold for dumb reasons. what do you think of that? >> i'm past nafascinated. hast the kind of stock i would never own. >> what would you own? >> something i do own. it's xli. an etf that plays on the u.s. industrial economy. that's a nice boring indexy way to play the market.
>> ben, how are you playing? >> i keep buying the spiders. it really works. >> do you think this market has everybody should be buying something. the ownership society is the way to go. >> it's the place for business. you're watching fox. all the others are losers. because i violated the two minute rule. >> i am a resident of gillford. >> what are you charging me with? >> arrest for disorderly conduct. >> disorderly conduct. >> a dad in new hampshire put in cuffs for speaking out at a school board meeting. he was ticked off about a required reading assignment for his 14-year-old daughter that included very graphic sex scenes but this may be even more shocking. a new report showing absolutely no improvement in test scores for high school seniors despite the fact that the government has been shelling out more than